He reflected on the economic policies in both Europe and China over the past year, noting that this time last year U.S. markets were caught off guard by the faltering global economies. This year, the U.S. has become important again.

Cramer said "kicking the can" has been scorned but in retrospect it's been working. Last year the Europeans had no idea how badly their economies were faltering, but the strategy of endless delays gave the markets time to process and prepare for the worse-case outcomes. U.S companies, he said, have moved to contain their losses in Europe, which is why they're able to thrive this year.

In China the same is true. As the Chinese have made small steps to stabilize their economy, U.S. companies have also been given time to prepare and adjust. More importantly, U.S. investors have taken the time to realize that not that many U.S. companies are even affected by China.

Look at today's biggest winners, said Cramer, companies like Netflix (NFLX) , Carmax (KMX) and Marathon Petroleum (MPC) are all domestic stocks with no European or Chinese exposure. Other winners today included Eli Lilly (LLY) , Petsmart (PETM) and Chipotle Mexican Grill (CMG) . No international worries there either.

Even Cliffs Natural Resources (CLF) , which is dependent on China, was able to rally today on the hopes of a "bad news is good news" scenario where things get so bad in China that the country is forced to act to save itself.

Cramer gave "three cheers" for the kick-the-can strategy, as its helped put American stocks back on the map.

Know Your IPO

In the "Know Your IPO" segment, Cramer featured Workday, the enterprise resource management company that's set to come public later this week under the ticker WDAY.

Cramer said Workday plays in the same space as Salesforce.com (CRM) , only instead of offering cloud-based software solutions for sales and customer service, Workday is offering similar software for human resources, payroll and employee expense management. This is a red-hot sector, said Cramer, which is why Workday should be on everyone's radar.

Workday is not yet profitable and only has 340 customers thus far, but Cramer said what's important to note is both the market opportunity, $39 billion, and Workday's growth rate -- the company increased revenue by 98% last year. While Workday is still losing money while it invests in its business, the percentage of the company's costs versus its revenue is declining rapidly, which is a very good sign.

So how much should investors be willing to pay for Workday? The IPO is expected between $21 and $24 a share, but Cramer said strong demand may send shares higher. At the middle of that range, Workday would be trading at 18 times sales, which is expensive by traditional metrics, but well below stocks like Guidewire (GWRE) and Palo Alto Networks (PANW) , two recent IPOs that popped on their first day of trading and continued higher.